1966-004 ORDINANCE NO 66-?~
ORDINANCE AUTHORIZING THE ISSUANCE OF REVENUE BONDS
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
WHEREAS, the bonds hereinafter authorized were duly
and favorably voted, as requzred by the Constitution and laws
of the State of Texas, at an election held in said City on the
30th day of January, 1960, and
WHEREAS, out of the bonds voted at said electlon, the
following previously have been issued and delivered
$ 655,000 out of a voted total of $1,600,000, for
the purpose of ~mproving and extendzng
the Czty's Waterworks System, repre-
sented by part of the bonds of Series
1960 and Series 1962, and
$1,485,000 out of a voted total of $2,600,000, for
the purpose of improving and extending
the City's sewer System, represented by
part of the bonds of Series 1960 and
Serzes 1962, and the bonds of Series
1964, and
WHEREAS, the bonds hereinafter authorized are to be
~ issued and delivered pursuant to Vernon's Artzcles 1111 through
1118, and said City's Home Rule Charter
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
Sectzon 1 That sazd Czty's coupon bonds to be
REVENUE
,, ~ ~webv authorzzed to be issued and de-
designated the "CITY OF DENTON WATER AiqD sEWER SYSTEM
BONDS, SERIES 196~, .a~% ~Z~,,~ of $1,000,000 for the ~r_~?%e
livered zn the prz~P~i.=~m~mUiNG AND EXTENDING THE U£'rY ~
of providing $340,00~ ~um z~'~ ....
WATERWORKS SYS%EM, and providzng $660,000 FOR IMPROVING AND
EXTENDING THE CITY'S SEWER SYSTEM
Section 2 That sazd bonds shall be dated JANUARY 15,
1966, shall be numbered consecutively from 1 THROUGH 200, shall
be in the denomination of $5,000 EACH, and shall mature and be-
come due and payable serially on JULY 15 ~n each of the years,
and in the amounts, respectively, as set forth in the following
schedule, yEARS AMOUNTS _EAR~ _MOUNTS..
1967 $50,000 1977 $50,000
1978 50,000
1968 50,000 1979 50,000
1969 50,000 1980 50,000
1970 50,000 1981 50,000
1971 50,000 1982 50,000
1972 50,000 1983 50,000
1973 50,000 1984 50,000
1974 50,000 1985 50,000
1975 50,000 1986 50,000
1976 50,000
Section 3 That the bonds scheduled to mature durzng
the years, respectively, set forth below shall bear interest
from their date, until maturity, at the following rates per
annu~
maturities 1967 through 1970, 4~7
maturities 1971 4%
maturities 1972 ~nrough 1976, 3 30%
maturities 1977 through 1980, 3 40%
maturities 1981 through 1986, 3~%
which shall
Sa~d ~nterest shall be evidenced by ~nterest coupons
appertain to sa~d bonds, and which shall be payable on the dates
stated ~n the FORM OF BOND set forth ~n th~s Ordinance
Section 4 That sa~d bonds and ~nterest coupons shall
' be payable, shall have the characteristics, and shall be s~gned
ar~ executed (and said bonds shall be sealed), all as provided,
and ~n the manner ~nd~cated, ~n the FORM OF BOND set forth ~n
this Ordinance
Section 5 That the form of sa~d bonds, ~nclud~ng the
form of Registration Certificate of the Comptroller of Public
AccountS of the State of Texas to be printed and endorsed on
each of sa~d bonds, and the form of the aforesaid ~nterest
coupons which shall appertain and be attached ~n~t~ally to each
of sa~d bonds, shall be, respectively, substantially as follows
FORM OF BON~
$5,000
N0o _
UNITED sTATES OF AMERICA
STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON WATER AND sEWER SYSTEM REVENUE BOND
SERIES 1966
ON JULY 15, 19__, the CITY OF DENTON, ~n the County of
Denton, State of Texas, promises to pay to bearer the principal
amount of
FIVE THOUSAND DOLLARS
and to pay ~nterest thereon, from the date hereof, at the rate
of % per annum, evidenced by ~nterest coupons payable JULY
15,--1966, and semi-annually thereafter on each JANUARY 15 and
JULY 15 wh~le th~s bond ~s outstanding The principal of th~s
bond and the ~nterest coupons appertaining hereto shall be pay-
able to bearer, ~n lawful money of the United States of AmeriCa,
w~thout exchange or collection charges to the bearer, upon
presentation and surrender of th~s bond or proper ~nterest
coupon, at THE FIRST NATIONAL CITY BANK OF NEW YORK, NEW YORK,
NEW YORK, or, at the option of the bearer, at the FIRST NATIONAL
BANK IN DALLAS, DALLAS, TEXAS, whmch places shall be the paying
agents for th~s Ser~es of bonds
THIS BOND ns one of a Serzes of coupon bonds dated
JANUARY 15, 1966, lssued ~n the princzpal amount of $1,000,000
for the purpose of providing $340,000 FOR IMPROVING AND ExTEND-
ING THE CITY'S WATERWORKS SYSTEM, and provzding $660,000 FOR
IMPROVING AND EXTENDING THE CITY'S SEWER SYSTEM
IT IS HEREBY certified, reczted, and covenanted that
thzs bond has been duly and valzdly zssued and delzvered, that
all acts, conditions, and things requzred or proper to be per-
formed, exist, and be done precedent to or ~n the zssuance and
delivery of th~s bond have been performed, exzsted, and been
done ~n accordance with law, and that the znterest on and
principal of thzs bond, and the Serzes of which zt is a part,
together with other outstanding waterworks and sewer system
revenue bonds of sazd City, are secured by and payable from
a first lzen on and pledge of the Net Revenues of said G~ty's
Waterworks and Sewer System
Said City has reserved the rzght, subject to the
restrictzons stated, or adopted by reference, zn the Ordznance
authorizzng this Series of bonds, to zssue addztzonal parity
revenue bonds which also may be secured by and made payable
from a first lien on and pledge of the Net Revenues of said
City's Waterworks and Sewer System
The holder hereof shall never have the rzght to de-
mand payment of this oblzgation out of any funds raised or to
be raised by taxation.
IN WITNESS WHEREOF, thzs bond and the znterest cou-
pons appertainzng hereto have been szgned with the facsimile
signature of the Mayor of sazd C~ty and counterszgned with the
facsimile signature of the City Secretary of said City, and the
official seal of said City has been duly zmpressed, or placed
in facszmile, on this bond
xxXXXXXX --
XXX~XXX
~ ~ty Secretary, City of Denton ~ayor, City of Denton
FORM OF REGISTRATION CERTIFICATE.
COMPTROLLER'S REGISTRATION CERTIFICATE REGISTER NO
I hereby certify that thzs bond has been examzned,
certified as to validitY, and approved by the Attorney General
of the State of Texas, and that thzs bond has been registered
by the Comptroller of Publzc Accounts of the State of Texas
Witness my szgnature and seal this
XXxxMXXX
~-omptroller of Public Accounts of
State of Texas.
FORM OF INTEREST COUPO~
NO
ON 15, 19__
THE CITY OF DENTON, ~n the County of Denton, State of Texas,
promises to pay to bearer the amount shown on thzs znterest
coupon, in lawful money of the United States of America, with-
out exchange or collection charges to the bearer, upon presen-
tation and surrender of thzs interest coupon, at THE FIRST
NATIONAL CITY BANK OF NEW YORK, NEW YORK, NEW YORK, or, at the
option of the bearer, at the FIRST NATIONAL BANK IN DALLAS,
DALLAS, TEXAS, said amount bezng interest due that day on the
e number hereinafter deszgnated, of that issue
bon bearing th ONDS SERIES
of ~TY OF DENTON WATER AND SEWER SYSTEM REVENUE B ,
1966, DATED JANUARY 15, 1966 The holder hereof shall never
have the right to demand payment of thzs oblzgatzon out of any
funds raised or to be raised by taxatzon Bond No ~
XXXXXXXX
XXXXXXXX -- Mayor
- City Secretary
Section 6 That the term "Outstanding Bonds," as used
herein, shall mean the outstandzng bonds of the following issues
of said City
Water and Sewer System Revenue Bonds, Series 1960,
authorzzed by ordinance dated July 12, 1960,
Water and Sewer System Revenue Bonds, Ser~es 1962,
authorized by ordznance dated March 27, 1962,
Water and Sewer System Revenue Bonds, Series 1964,
authorized by ordinance dated June 9, 1964
The Series 1966 Bonds authorized hereby are parity "Addztzonal
Bonds" as defined and permztted in the aforesazd ordznance dated
July 12, 1960, and Sectzons 9 through 25 of sazd ordinance are
adopted by reference and shall be applicable to sazd Serzes 1966
Bonds for all purposes, except to the extent hereinafter speczfz-
cally modifzed and supplemented The Serzes 1966 Bonds and the
Outstandzng Bonds are and shall be secured by and payable from a
first lien on and pledge of the Net Revenues of sa~d City's Water
and sewer System, and all of said obligations shall be on a parity
and of equal dignity ~n all respects
Section 7 That, xn addztzon to all other amounts re-
quired by the ordinances, respectzvely, authorizing the Oustand-
ing Bonds, there shall be deposzted znto the Interest and sinking
Fund, created for the benefit of said Outstanding Bonds and all
Addit~onal Bonds, the followzng
(a) such amounts, ~n equal monthly znstallments,
made on or before the last day of each month hereafter,
as will be sufficient to pay the interest scheduled to
come due on said Series 1966 Bonds on the next interest
payment date, and
(b) such amounts, ~n equal monthly znstallments,
made on or before the last day of each month hereafter,
as w~ll be suff~cnent to pay the next maturzng pr~nczpal
of sand Sernes 1966 Bonds
Section 8 That on or before the last day of each
month hereafter the sum of at least $1,685 shall be deposnted
~nto the Reserve Fund created for the benefnt of sa~d Outstandnng
Bonds and all Addnt~onal Bonds, until the aggregate amount of
$265,600 shall have been accumulated ~n sand Reserve Fund Sand
monthly deposnt ns nntended to be and shall be the cumulatnve and
total monthly sum now required to be deposited ~nto the Reserve
Fund pursuant to and on account of the ordinances, respectnvely,
aut~or~zmng the Outstandnng Bonds, and th~s ordinance authornz~ng
the Sernes 1966 Bonds After the amount of $265,600 shall have
been so accumulated, sand amount shall be manntanned ~n the
Reserve Fund for the benefit of the Outstanding Bonds, the Sernes
II 1966 Bonds, and all Additnonal Bonds, ~n accordance w~th the pro-
~1 cedures, as here~n modnf~ed and supplemented, set forth zn the
l ordinances authorizing the Outstanding Bonds
Section 9 That sa~d bonds are and shall be special
oblngatmons of sa~d Cnty, and the holder or holders thereof
shall never have the r~ght to demand payment of sa~d obligations
out of any funds raised or to be ransed by taxatnon
Section 10 That the Mayor of sand Cmty ~s hereby
authorized to have control of sa~d bonds and all necessary
records and prooeednngs pertaining to sa~d bonds pending their
delnvery and their nnvest~gat~on, examnnat~on, and approval by
the Attorney General of the State of Texas, and their regis-
tration by the Comptroller of Public Accounts of the State of
Texas Upon reg~stratnon of sazd bonds, sand Comptroller of
Public Accounts (or a deputy desngnated nn wrntnng to act for
sa~d Comptroller) shall manually s~gn the Comptroller's Regis-
,trat~on Cert~fncate printed and endorsed on each of sand bonds,
l~and the seal of sa~d Comptroller shall be ~mpressed, or placed
nn facsimile, on each of sa~d bonds
Section 11 That the C~ty Councnl officially f~nds,
,determines, and declares that sa~d bonds have been duly adver-
, tzsed for sale as required by the Home Rule Charter of sa~d Czty,
that sealed b~ds have been received at a public sale of samd
Ibonds held on January 25, 1966, that all of sazd bonds are here-
tby sold and shall be delivered to a syndicate managed or headed
O
an Dnllon~ Un~on Securities_& C~ ~ .......
by Eas~m .......... ~ nublnc sale, for the pr~nczpal
benng the best bZa~ ~ o~ =
amount of sazd bonds, and accrued nnterest thereon to the date
of delnvery, plus a premnum of $__-0- _
GENERAL CERTIFICATE.
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
We, the underszgned, hereby offlczally ce~tzfy that we
are the Mayor and Cmty Secretary, respectively, of samd Cmty, and
we further certzfy as follows
.. , zd Cmtv ms a duly zncorporated Home Rule
1 That~g?_ ~nmn-znhabztants, operatzng and e]m~Ing
i Czty, havmng more ~n~L~ ~]~s of the State of Texas an~ ~=
under the Constlt - ~ ~ whmch Charter has
duly adopted Ho~e Chart =^~ e~nae the passage of the ordznance
! not'been change~ or amenu=u ..... outstandzng bonds
I authorzzmng the most recently mssued Serzes of
~ lmsted below zn paragraph 3 hereof
2 That no lmtmgatmon of any nature has ever been
fmled pertaznmng to, affectmng, or contestmng (a) the electmon
whmch authormzed the proposed Czty of Denton Water and Sewer
System Revenue Bonds, Sermes 1966, dated January 15, 1966, zn
the prmncmpal amount of $1,000,000, (b) the mssuance, delzvery,
payment, securzty, or valzdlty of sazd proposed bonds, (c) the
tmtle of the present members and offzcers of the Czty Counczl of
samd Cmty to thezr respectzve offzces, or (d) the valzdzty of the
corporate exmstence or the Charter of sa~d Cmty
3 That none of the revenues or mncome of sazd Cmty's
Water and Sewer System have been pledged or encumbered to the
payment of any debt or oblzgatzon of sazd Czty or sazd System,
except in connectmon w~th the aforesamd proposed Sermes 1966
Bonds, and the outstandmng bonds of the followmng zssues of sazd
Cmty
Water and Sewer System Revenue Bonds, Sermes 1960,
Water and Sewer System Revenue Bonds, Sermes 1962,
Water and Sewer System Revenue Bonds, Serzes 1964
4 That the rates bemng charged for water and sewer
servmce by samd Czty have not been changed smnce the passage of
the ordmnance authormzzng the most recently mssued Sermes of out-
standmng bonds lmsted above
5 That the Interest and Sznkzng Fund and the Reserve
Fund, created and mazntazned for the benefmt of the outstandzng
bonds lzsted above, mn accordance wmth the ordmnances, respect-
mvely, authormzmng their mssuance~ each contazns the amount now
requmred to be on deposzt therezn, wzth such amounts zn each
of samd Funds bezng as follows
(a) Interest and Smnk~ng Fund $~9, 79~ R~
$164,630 25,
(b) Reserve Fund
and the Cmty ms not in default mn any of the covenants contamned
mn the aforesamd ordinances
SIGNED AND SEALED thzs the 25th day of January, 1966
Czty secretary
(SEAn)
CERTIFICATE FOR REVENUE BOND ORDINANCE.
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
We, the undersigned officers of said City, hereby certify
as follows
1 The City Council of sazd City convened in
REGULAR MEETING ON THE 25TH DAY OF JANUARY, 1966,
at the Municipal Building, and the roll was called of the duly
constituted offzcers and members of said City Counczl, to-wit
Brooks Holt, City Secretary Warren Whitson, Jr , Mayor
Howard Gentry Frank A Camp, Jr
Chester A Newland H R Pemberton
and,all of said persons were present, except the following
absentees ~/o~/~ , '
thus constituting a quorum Whereupon, among other business,
the following was transacted at said Meeting a written
ORDINANCE AUTHORIZING THE ISSUANCE OF REVENUE BONDS
was duly introduced for the consideratzon of said C~ty Council
and read in full It was then duly moved and seconded that said
Ordinance be passed, and, after due discusszon, said motion,
carrying with it the passage of said Ordinance, prevazled and
carried by the following vote
AYES All members of sazd City Counczl
shown present above voted "Aye"
NOES None
2 That a true, full, and correct copy of the aforesaid
Ordinance passed at the Meeting descrzbed in the above and fore-
going paragraph is attached to and follows this Certificate, that
said Orainance has bee~ duly recorded zn sa~d C~ty Council's
mznutes of sazd Meeting, that the above and foregoing paragraph
· s a true, full, and correct excerpt from said City Council's
minutes of said Meeting pertazn~ng to the passage of sa~d Or-
dznance, that the persons named in the above and foregoing para-
graph are the duly chosen, qualzf~ed, and actzng officers and
members of said City Council as indicated therezn, and that each
of the offzcers and members of said Czty Counczl was duly and
sufficiently notified officially and personally, zn advance, of
the time, place, and purpose of the aforesazd Meetzng, and that
said Ordinance would be introduced and conszdered for passage at
said Meeting, and each of sazd offzcers and members consented,
in advance, to the holding of sazd Meeting for such purpose
3 That the Mayor of said C~ty has approved, and hereby
approves, the aforesaid Ordznance; that the Mayor and the City
Secretary of said Czty have duly signed sazd Ordznance, and that
the Mayor and the City Secretary of said City hereby declare that
their signing of this Certificate shall constitute the signing of
the attached and following copy of sazd Ordinance for all purposes
SIGN~ AND SEALED th~25th day of January, 1966
Mayor
(SEAL) ........................................
We, the undersigned, being respectively the C~ty Attorney and
the Bond Attorneys of the City of Denton, Texas, hereby certify
that we prepared and approved as to legality the attached and
following Ordinance prior to its pa~~~
City Attorney
Bo~dAttorneys
Mc_CALL PARKHURST ~- HORTON
January 25, 1966
Honorable Mayor and Council of
the Czty of Denton,
Denton, Texas
Gentlemen CITY OF DENTON WATER AND SEWER SYSTEM
REVENUE BONDS~ SERIES 1966~ 91,000,000
In compliance wzth Section 9 02 and Sectzon
9 04 of the City Charter of the Czty of Denton, you are ad-
vised that the bids for this issue of bonds have been tabu-
lated and that we fznd that the bzd of a Syndicate managed
by Eastman Dillon, Union Securities & Co , for the bonds to
bear interest at the rates therein specified and for which
such bidder will par and accrued interest to date of delivery
plus a premium of $ -0-, zs the lowest and best bid recezved,
and we recommend that it be accepted
We further certzfy that we have examzned the
orldinance presently placed before the Mayor and Czty Counczl
for the purpose of authorizing the issuance of sazd bonds,
and in our opinion the said proposed bond ordinance zs legal,
and that the bonds to be zssued thereunder wzll be valid and
binding obligations of the Clty's Waterworks and Sewer System
Respectfully,
McCALL, PARKHURST & HORTON